The board of directors of the HBM Holdings Limited announced that, the Company has been granted the approval of Investigational New Drug (the "IND") from the National Medical Products Administration (" NMPA "), to commence Phase I clinical trial of its B7H4x4-1BB bispecific antibody (HBM7008) in China. This study will evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics and preliminary anti-tumor activity of HBM7008 in patients pharmacokinetics, pharmacodynamics and preliminary anti-tumor activity of HBM7008 in patients HBM7008 in Australia on May 25. HBM7008 is generated from the company's unique and innovative HBICE® platform.

It is a first-in-class bispecific antibody targeting B7H4 and 4-1BB. The bispecific antibody can engage and activate T cells by 4-1BB only in B7H4 positive tumor microenvironment. B7H4 is overexpressed on a variety of solid malignancies, including breast, ovarian, endometrial, and non-small cell lung cancers.

With its crosslinking dependent specificity on tumors and potent immune modulation activity, HBM7008 has shown excellent safety profile with strong anti-tumor efficacy in the pre-clinical study, including completed response observed in mouse tumor model.